Ring of Fire News

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What's up with the biggest thing happening in mining in NW Ontario?

Ring of Fire News – February 8, 2013

  • Provincial Finance MinisterGoneProvincial Energy (and Aboriginal Affairs) MinisterGoneProvincial Northern Development MinisterGone!  New Cabinet?  Getting sworn in Monday – more here.
  • Long, but detailed piece on infrastructure (rail?  road?) getting into the Ring of Fire by analyst Stan Sudol  “…. Premier DesignateWynne has been quoted in the Sudbury Star as saying, “I want to make sure that we move the Ring of Fire project ahead.” In addition, her previous experience at Aboriginal Affairs ensures a keen understanding of one of the most important issues in this development. Recently in the Globe and Mail, Charles Sousa, stated “We need to establish a rail or transportation system, a spine to the north, providing access to isolated communities.” In other publications, he is quoted as saying, “Developing the Ring of Fire will be my top priority for the north.” With a new Premier, a fresh group of advisors and senior Cabinet appointments, I sense there will be a paradigm shift at Queen’s Park towards the Ring of Fire. The project will finally become a priority which to be honest, never seemed to be the case with McGuinty and his environmental followers. Northern Ontario may have finally found the leader we need; a leader with a bold northern vision who is able to seize the extraordinary opportunities that the Ring of Fire offers, and that will also help the province slay its deficit and sustain our much valued health, education and social services. That includes making the strategic choice of a railroad instead of a road for long-term economic sustainability of this extraordinary rich mining camp that will be in production for many decades to come.”  Source
  • “KWG Resources and Bold Ventures are joining forces to explore Bold’s recently acquired Black Horse chromite property at
    Koper Lake in Ontario’s far northern Ring of Fire mineral zone.
    In a Monday release, KWG said an initial program, scheduled to begin as soon as the transaction closes, is aimed at determining “whether this chromite mineralization occurs in sufficient quantity and quality to demonstrate the feasibility of mining it and transporting it to market by rail via the claims of KWG subsidiary Canada Chrome Corporation.” The companies said Bold Ventures will act as operator, while KWG will provide funding. The current program has a budget of $2 million to drill the chromite horizon. An additional $1 million has been budgeted to drill a contiguous possible nickel target. “There is compelling geological and geophysical evidence to suggest that this mineralization could be part of an extensive continuous emplacement,” said KWG president Frank Smeenk. “If this drilling program is able to confirm that, we would wish to be the first Canadian companies to develop markets for the Ring of Fire chromite by providing transportation over Canada Chrome Corporation’s contiguous claims.” Canada Chrome has staked a line of claims running from the Ring of Fire mineral zone to the CN line near Nakina, and has conducted preliminary studies for a rail bed. A bid by Cliffs Natural Resources to acquire surface rights on those claims for its own year-round road is now before Ontario’s Mining and Lands Commissioner. Bold Ventures recently concluded a four-stage option to acquire the Koper Lake claims from Fancamp Exploration Ltd. In its own release, Bold said it will be paid a management fee as operator and will maintain control of the programs with input from KWG. Under the terms of the agreement, KWG can acquire up to 80 per cent of Bold’s interest in the Fancamp option by funding 100 per cent of Bold’s earn-in expenditures and option payments due to Fancamp. “This is a great opportunity for Bold to participate in the Koper Lake project without having to raise funds and dilute the interests of shareholders,” said company president and CEO Richard Nemis. Nemis thanked Marten Falls First Nation “for its ongoing guidance and co-operation with respect of the proposed exploration program.” ”  Source (In Support of Mining blog)
  • (Not in the Ring of Fire, but still worth noting)  Attawapiskat folks block the winter road into the DeBeers Canada Victor diamond mine – for a while, until the company agreed to more meetings with folks to discuss jobs and similar stuff – more on the brief protest here.

More open source information (excerpts from information monitored 11 Jan-8 Feb 13 (38 page PDF) here. All information shared here in accordance with the Fair Dealing provisions (§29) of the Copyright Act. The blog is not responsible for the accuracy of the source material, and inclusion of material doesn’t mean endorsement.

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